Insurance news

• Arthur J. Gallagher Acquires Excel Insurance, Metcom Excess in N.J.

  02-03-2015 22:24
  
  Arthur J. Gallagher & Co. announced the acquisition of two New Jersey-based wholesale brokers: Excel Insurance Services Inc., located in Hamilton; and McCloskey Surplus & Excess Inc. (d/b/a Metcom Excess), located in Ridgefield Park. Terms of the transactions were not …
  The article Arthur J. Gallagher Acquires Excel Insurance, Metcom Excess in N.J. appeared first on Insurance Journal.
  
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• Former Penn. Commissioner Consedine Joins Transamerica to Lead Gov’t Affairs

  02-03-2015 22:10
  
  Transamerica, headquartered in Baltimore, Maryland, has appointed former Pennsylvania Insurance Commissioner Michael F. Consedine as senior vice president, deputy general counsel and executive director of government affairs. At Transamerica, Consedine will oversee all aspects of the company’s state and federal …
  The article Former Penn. Commissioner Consedine Joins Transamerica to Lead Gov’t Affairs appeared first on Insurance Journal.
  
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• Cyber risks a top concern for majority of D&O underwriters

  02-03-2015 21:31
  
  A total of 60% of directors & officers underwriters consider a company’s cyber security a major risk when it comes to underwriting a D&O policy, says a brokerage’s survey.
  
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• 2015 Risk Manager of the Year®, Risk Management Honor Roll® announced

  02-03-2015 20:42
  
  Business Insurance announced Monday that Kathleen M. Ireland, vice president of global risk and insurance management at technology giant IBM Corp. in Armonk, New York, is the 2015 Risk Manager of the Year®.
  
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• Connecticut launches probe into Lenovo use of Superfish software

  02-03-2015 20:33
  
  (Reuters) — Connecticut Attorney General George Jepsen’s office said on Monday it has launched an investigation into Lenovo Group Ltd.’s sales of laptops preloaded with Superfish software, which the U.S.
  
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• Comp sole remedy for disabled worker, wife who alleged settlement delays

  02-03-2015 20:31
  
  Workers compensation is the exclusive remedy for a permanently disabled worker and his wife who allege that an insurer and its claims administrator delayed, discouraged and denied benefits for 10 years, the Texas Supreme Court has ruled.
  
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• Terrorists Have Shifted from Attacking Airlines to Mass Transit: Study

  02-03-2015 20:00
  
  Successful terrorists have shifted their focus in recent years away from attacking airlines to attacking subway and rail systems, according to an analysis of terrorist attacks over a 30-year period from 1982 to 2011 by a leading health and safety …
  The article Terrorists Have Shifted from Attacking Airlines to Mass Transit: Study appeared first on Insurance Journal.
  
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• If you don't have health insurance, you may have to pay a penalty - Washington Post

  02-03-2015 19:16 via washingtonpost.com
  
  If you don't have health insurance, you may have to pay a penalty
  Washington Post
  A “teachable moment” is one way to describe the consternation that people may feel when they file their taxes this spring and realize they may owe a penalty for not having health insurance. According to a new survey, the number of people who may need ...
  
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• 5 steps to cheaper car insurance rates

  02-03-2015 19:11
  Even though insurance is a necessity for most people, there are some tried-and-true ways to find cheap car insurance.
  
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• Massachusetts Official Surveys Storm Damage Along Coast

  02-03-2015 18:59
  
  Parts of the Massachusetts coastline could face a lengthy recovery process after being pummeled by severe winter storms, the state’s top environmental official said on Feb. 27. Secretary of Energy and Environmental Affairs Matthew Beaton was joined by local state …
  The article Massachusetts Official Surveys Storm Damage Along Coast appeared first on Insurance Journal.
  
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• MetLife to Pay Government $123.5M in Mortgage Settlement

  02-03-2015 18:58
  
  MetLife’s home lending unit will pay $123.5 million to end an investigation into allegations it gave government-backed mortgages to people who didn’t meet federal requirements. The Justice Department said on Feb. 25 that MetLife knew the business was issuing hundreds …
  The article MetLife to Pay Government $123.5M in Mortgage Settlement appeared first on Insurance Journal.
  
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• ACE Launches Pollution Liability Coverage for Agriculture Risks

  02-03-2015 18:57
  
  ACE Group has introduced a new agriculture premises pollution liability coverage that provides limited pollution liability protection in conjunction with ACE’s Agribusiness Commercial general liability policy. The expanded coverage offers commercial companies that process and distribute agricultural products with pollution-liability …
  The article ACE Launches Pollution Liability Coverage for Agriculture Risks appeared first on Insurance Journal.
  
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• FEMA Exec Tells ’60 Minutes’ He’s Seen Evidence of Fraudulent Reports

  02-03-2015 18:53
  
  The head of Federal Emergency Management Agency’s (FEMA) flood insurance program acknowledged he has seen evidence of fraudulent engineering reports that may have been used to deny flood claims by Superstorm Sandy victims, according to CBS’s “60 Minutes” program that …
  The article FEMA Exec Tells ’60 Minutes’ He’s Seen Evidence of Fraudulent Reports appeared first on Insurance Journal.
  
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• Workers' Comp best practices: Four steps to employee wellness

  02-03-2015 18:50
  In any business, employees are strategic investments. Here's how to protect those investments.
  
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• London broker snags competitor’s energy team

  02-03-2015 18:40
  
  London-based insurance and reinsurance brokerage THB Group Ltd. has hired a team of energy brokers from London-based Howden Insurance Brokers Ltd.
  
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• Berkshire Hathaway fourth-quarter results drop

  02-03-2015 18:31
  
  Berkshire Hathaway Inc.’s net income for the fourth quarter of 2014 dropped 16.6% from that of the same period a year earlier to $4.
  
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• Years of Sewer Backups in South Dakota Town Prompt Lawsuits

  02-03-2015 18:16
  
  Thirteen Spearfish, S.D., residents have sued the city over years of sewer backups. Plaintiffs say in their lawsuit that they have suffered through a series of sewer backups stretching back to 2008, leading to stinky, flooded basements and lost possessions. …
  The article Years of Sewer Backups in South Dakota Town Prompt Lawsuits appeared first on Insurance Journal.
  
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• Red-Light Camera Lawsuits Reinstated in Louisiana Parish

  02-03-2015 18:15
  
  The battle over Jefferson Parish’s defunct red-light camera program is headed back to district court, after appellate judges reversed decisions throwing out ticketed drivers’ lawsuits against the parish and Redflex Traffic Systems. A 5th Circuit Court of Appeals panel raised …
  The article Red-Light Camera Lawsuits Reinstated in Louisiana Parish appeared first on Insurance Journal.
  
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• Michigan Man Sentenced for Selling Fake Auto Insurance

  02-03-2015 18:13
  
  A 64-year-old Michigan man has been sentenced to one year in jail for selling fake auto insurance certificates. Hakeem Sanusi of Eastpointe pleaded no contest to six counts of insurance fraud as a habitual offender. He was sentenced on Feb. …
  The article Michigan Man Sentenced for Selling Fake Auto Insurance appeared first on Insurance Journal.
  
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• Liquidation Looms for Midwest Insurance Cooperative

  02-03-2015 18:08
  
  An insurance cooperative created to provide health care in Iowa and Nebraska will be formally liquidated this weekend. Iowa Insurance Commissioner Nick Gerhart said that a Polk County judge has agreed to approve the liquidation plan. CoOportunity is a federally …
  The article Liquidation Looms for Midwest Insurance Cooperative appeared first on Insurance Journal.
  
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• Terrorism insurance pool buys reinsurance for first time

  02-03-2015 17:48
  
  Pool Reinsurance Co. Ltd., the U.K. government-backed terrorism reinsurance backstop, has bought commercial reinsurance coverage for the first time since it was established two decades ago.
  
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• Arizona Court Says No Blanket Right to Travel for Injured Worker Care

  02-03-2015 17:42
  
  A court ruling says Arizona workers being treated for on-the-job injuries aren’t entitled to travel expenses if they haven’t shown they cannot get necessary care locally. The Arizona Court of Appeals ruled last week in the workers’ compensation case of a …
  The article Arizona Court Says No Blanket Right to Travel for Injured Worker Care appeared first on Insurance Journal.
  
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• Small Fire Erupts by Disneyland Attraction in California

  02-03-2015 17:38
  
  Officials say a small fire erupted over the weekend near a Disneyland attraction, but it was put out by park firefighters and no one was hurt. Disneyland spokeswoman Suzi Brown says the fire broke out about 9:20 p.m. on Saturday in …
  The article Small Fire Erupts by Disneyland Attraction in California appeared first on Insurance Journal.
  
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• Utah Firm to Issue Refunds to Settle Suit Over Weight-Loss Pills

  02-03-2015 17:36
  
  A Salt Lake City, Utah-based company has agreed to pay refunds to consumers who purchased its weight-loss tablets to settle a class-action lawsuit that claimed its advertising slogan, “Eat All You Want & Still Lose Weight,” was deceptive. Under the …
  The article Utah Firm to Issue Refunds to Settle Suit Over Weight-Loss Pills appeared first on Insurance Journal.
  
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• Nearly 200 Distracted Drivers Ticketed in Nevada

  02-03-2015 17:32
  
  Nearly 200 people in the Reno-Sparks, Nev. area were cited for distracted driving during a special enforcement effort earlier this month. The Nevada Highway Patrol and Washoe County Sheriff’s Office joined Reno and Sparks police in the distracted driving awareness …
  The article Nearly 200 Distracted Drivers Ticketed in Nevada appeared first on Insurance Journal.
  
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• Apple, Google workers head to court on $415 million poaching settlement

  02-03-2015 17:32
  
  (Reuters) — Workers accusing Apple, Google and two other Silicon Valley companies of conspiring to hold down salaries will try on Monday to win approval of a $415 million settlement from a U.S. judge who rejected an earlier deal as too low.
  
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• Operations In Boise, Idaho Suspended by Uber After Impasse

  02-03-2015 17:30
  
  Uber said on it was suspending its operations in Boise, Idaho, after reaching an impasse in negotiations with city leaders over new regulations. “Steep and growing costs that come from offering thousands of free rides combined with unworkable and onerous …
  The article Operations In Boise, Idaho Suspended by Uber After Impasse appeared first on Insurance Journal.
  
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• Home Insurer 1347 PIH Ends Kingsway Contract, Eyes Expansion

  02-03-2015 17:25
  
  Tampa, Florida-based 1347 Property Insurance Holdings Inc., which sells homeowners insurance in Louisiana and has plans to expand to other coastal states, announced it has bought out the management services contract with a subsidiary of one of its founding firms, …
  The article Home Insurer 1347 PIH Ends Kingsway Contract, Eyes Expansion appeared first on Insurance Journal.
  
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• Reform law's fate will hinge on how justices interpret a few words

  02-03-2015 17:02
  After months of nervous speculation, it's finally the U.S. Supreme Court's turn this week to consider the legal case that could solidify or savage President Barack Obama's landmark health care reform law.
  
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• Health reform law's fate hinges on interpretation of a few words

  02-03-2015 17:02
  After months of nervous speculation, it's finally the U.S. Supreme Court's turn this week to consider the legal case that could solidify or savage President Barack Obama's landmark health care reform law.
  
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• RenaissanceRe Completes Acquisition of Platinum Underwriters

  02-03-2015 16:50
  
  RenaissanceRe Holdings Ltd. announced that it has completed its acquisition of Platinum Underwriters Holdings Ltd. The acquisition was originally announced on November 24, 2014. “The combination of RenaissanceRe and Platinum marks an important milestone for our company, benefiting our expanded …
  The article RenaissanceRe Completes Acquisition of Platinum Underwriters appeared first on Insurance Journal.
  
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• Client prospecting in 2015: 4 steps to success

  02-03-2015 16:44
  Follow these four steps to take your client prospecting to a deeper level.
  
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• Insurance industry leaders remember Robert Benmosche

  02-03-2015 16:33
  Insurance industry leaders comment on the passing of former AIG CEO Robert Benmosche.
  
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• Bouncy invention takes on hail damage

  02-03-2015 16:32
  
  Losses caused by hail damage to automobiles can be expensive for insurance buyers and insurers.
  
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• Amlin, Hiscox Say They Plan to Remain Independent Amid Flurry of M&As

  02-03-2015 16:26
  
  Lloyd’s of London insurers Amlin plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Both insurers reported lower full-year pretax …
  The article Amlin, Hiscox Say They Plan to Remain Independent Amid Flurry of M&As appeared first on Insurance Journal.
  
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• Who will succeed Warren Buffett?

  02-03-2015 16:26
  The billionaire left the world guessing on Saturday by reiterating that the Omaha, Neb.-based company’s board has the “right person” for the job without identifying the executive in the document.
  
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• Health Insurance and Your Taxes: What to Know - U.S. News & World Report

  02-03-2015 16:21 via health.usnews.com
  
  U.S. News & World Report
  Health Insurance and Your Taxes: What to Know
  U.S. News & World Report
  Taxes are different this year — don't forget to claim your health coverage from last year. A doctor with a stethoscope holds a piggy bank. About 20 million Americans who were uninsured in 2014 will qualify for an exemption. By Lacie Glover March 2 ...
  
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• CEO of Berkshire's energy unit saw his pay double to $27.6M in 2014

  02-03-2015 16:19
  Greg Abel, the chairman and CEO of Berkshire Hathaway’s energy unit, saw his pay more than double last year to $27.6 million, driven by a cash payout under an incentive plan established six years ago.
  
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• Amlin stumbles on reduced investment results

  02-03-2015 16:04
  
  Amlin P.L.C. posted pre-tax profit of £258.7 million ($399.3 million) for 2014, down 21% from 2013, in a more challenging trading environment, according to its CEO Charles Philipps.
  
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• Berkshire insurance 'superstar' could fill Buffett's shoes

  02-03-2015 15:52
  
  (Reuters) — Warren Buffett, at a news conference in Bengaluru, India, in 2011, lavishly praised Berkshire Hathaway executive Ajit Jain for smoothly running much of the conglomerate's insurance businesses.
  
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• Uber: Hackers May Have Stolen Data on 50,000 Drivers

  02-03-2015 15:18
  
  Uber Technologies Inc. said its database was access by an unauthorized third party last year, resulting in the possible theft of information on 50,000 drivers. The drivers, who are part of Uber’s mobile car-booking network, were notified and Uber took …
  The article Uber: Hackers May Have Stolen Data on 50,000 Drivers appeared first on Insurance Journal.
  
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• The big freeze: 5 signs your pipes are frozen and how to thaw them

  02-03-2015 15:01
  Extremely cold temperatures are affecting unprotected pipes across the country, causing thousands of dollars in damage.
  
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• U.S. insurers may start feeling the heat on climate change mitigation

  02-03-2015 14:47
  The U.S. property and casualty industry may be nearing a crossroads in its approach to climate change, perhaps prompting a more proactive strategy to limit the threat to the environment and insurance company bottom lines over the long term.
  
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• Senate Committee Backs Monetary Incentives for Auto Defect Whistleblowers

  02-03-2015 14:38
  
  A measure that would offer financial incentives for auto industry employees to expose safety defects won unanimous backing from a U.S. Senate panel on Thursday. The vote by 13 Republican and Democratic members of the Senate Commerce, Science and Transportation …
  The article Senate Committee Backs Monetary Incentives for Auto Defect Whistleblowers appeared first on Insurance Journal.
  
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• 3 GOP Senators’ OpEd: Keep Obamacare Subsidies Temporarily

  02-03-2015 14:10
  
  Senior Republican senators said Sunday that Congress would extend Obamacare health insurance subsidies for a “transitional period” should the Supreme Court rule that they aren’t allowed in at least 34 states. Meanwhile, Republicans would design an alternative policy for those …
  The article 3 GOP Senators’ OpEd: Keep Obamacare Subsidies Temporarily appeared first on Insurance Journal.
  
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• Do’s and don’ts for safely removing snow from your roof

  02-03-2015 13:20
  If you have to get the snow off the roof, here are some tips on how to do it.
  
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• Ethics is a choice of right vs. right

  02-03-2015 13:03
  March is National Ethics Month, and when faced with tough decisions with multiple solutions--how do you determine which is the "right" answer?
  
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• Ireland’s FBD Holdings Reports Worse-Than-Forecast Operating Loss, Weak Outlook

  02-03-2015 12:27
  
  FBD Holdings plc plunged in Dublin trading after the Irish insurer’s full-year results missed its own downgraded forecast and its operating profit outlook for 2015 fell short of analysts’ expectations. FBD declined 14 percent to 10.50 euros at 9:35 a.m., …
  The article Ireland’s FBD Holdings Reports Worse-Than-Forecast Operating Loss, Weak Outlook appeared first on Insurance Journal.
  
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• Severe weather warning issued in New South Wales

  02-03-2015 11:50
  
  A severe weather warning has been issued for several regions of Australia's New South Wales state, reported Skynews.com.au.
  
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• Criminals turning to cybercrime: U.K. Police chief

  02-03-2015 11:49
  
  Adrian Leppard, commissioner of U.K.'s City of London Police, has said that although traditional crimes have been decreasing, financial crimes are on the rise, reported Telegraph.co.uk.
  
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